Net S.A.

Net Serviços de Comunicação S.A
Type Sociedade Anônima
Traded as BM&F Bovespa: NETC3, NETC4
NASDAQNETC
Industry Telecommunication
Founded (1991)
Headquarters Rio de Janeiro, Brazil
Key people José Félix, (Chairman)
Products Cable television, Broadband Internet, VoIP
Revenue increase US$ 3.4 Billion (2010) [1]
Profit decrease US$ 195.2 Million (2010) [2]
Employees 12 000
Parent Organizações Globo
Website [1]

NET (BM&F Bovespa: NETC3, NETC4 / NASDAQNETC / BMAD: XNET) is the largest cable television operator in Latin America. The company's Net service (cable TV) had around 23.5 million subscribers as of June 2009. Net also operates the broadband internet service Net Vírtua, with 12.6 million subscribers and telephone over cable (under the Net Fone via Embratel name) with 2.3 million subscribers.

Contents

History

NET was started in 1991[citation needed] by Brazil's Roberto Marinho family's part of their Rede Globo empire. In March 2005, Embratel, a subsidiary of Mexico's Telmex, took a controlling stake in NET, paying 570 million reais.

Net Serviços' stock is traded on Bovespa, where it is part of the Ibovespa index.

The company announced in late 2006 that it would buy Vivax, then the nation's second-largest cable company. The transaction was approved in May 2007 and completed in June 2007. Rollout of the Net brand in Vivax areas was completed in December 2007.

On August 10, 2010, NET became the first cable operator in Brazil to offer all the Discovery Latin America channels: Discovery Channel, Animal Planet, Discovery Kids, People+Arts, Discovery Travel & Living, Discovery Home & Health, Discovery Science, Discovery Civilization, Discovery Turbo, HD Theater and TLC.

See also

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References

  1. ^ Investing.businesweek.com
  2. ^ Economia.estadao.com.be net net income decrease 58% in 2010 for R$307/US$195.2 Million

External links